The story, reported in The Sunday Times, follows a rapid fall in Marston’s share price.
Bradley Radoff, who owns about 3% of the shares in the Wolverhampton-based pub group, went on the attack last week amid a share slump that has wiped roughly £70 million from the company’s market value since the start of 2026.
He said: “I’m asking the board to be its own ‘activist’ and solve the problem immediately. The board is lazy.”
Marston’s is one of Britain’s biggest pub companies with about 1,300 pubs across the country and an annual turnover of almost £900 million. However, it is sitting on debts of £860 million as of late March.
The company has cut net debt by more than £400m since 2023 and has said it will not return funds to shareholders until debt has reached a certain threshold.
Marston’s said last week that the net value of its assets per share was £1.28. But its shares closed last week at 45p. Radoff claimed the difference between the value of the company’s assets and its share price meant bosses were “getting an ‘F’ right now from the market”.
- Read the full story on The Morning Advertiser’s sister site, MCA, here.
